buygala:
I just have to resurrect this thread

5.4m for a brand new 2009 Accord in 2009

When things were a bit sane

buygala:
I just have to resurrect this thread

5.4m for a brand new 2009 Accord in 2009

When things were a bit sane

MrMcJay:


Were things ever sane?
5.4M was a lot of money as at that time.
5.4M in 2009 was almost $33k at 165/$
$33K as at today is about 24M at 730/$
The question is: How much is a brand new Accord as at today?
About the same 24M

buygala:

You are partially correct

But the dollar to naira exchange rate was in the 140s then ..not 165..I remember because a relation of mine dashed me 100$ as as at then for school pocket moni..and i remember travelling from Ife to Ibadan to exchange it for naira at Mokola. Even black market style, I exchanged at 143. And it was very easy for me to get it in, not like now that to do so back in naija, I gats fill forms, pay bribes, explain wetin I wan use $ do, before I can even get 50$.

2ndly, the price of a brand new 2022 Honda accord ranges from 26k$ to around 38k$, depending on the trim...the 2009 Accord up there looks basic, so concluding without verifiable dats that it was worth 33k$ isn't correct...

3rdly, even as at 2009, the middle class Nigerian could afford that brand new accord via savings, bank and cooperative financing, etc...Presently, the same middle class Nigerian will find it very hard to cough out 20m+ for a brand new car..To even buy clean tokunbo these days, e probably gats collect small loan or adashe.

While disagreeing, we should try to verify facts..We mustn't assume that some of us weren't born yet in 2009 or didn't yet have access to exchange rate info .

No matter how we try to twist things, many of us wish We can be taken back to the 2009 commodity pricing and exchange rate situation

MrMcJay:


Your argument is same with that of someone is arguing with an importer that the exchange rate in 2022 is 580 because in Feb 2022, his kinsman dashed him $100 and he changed it for 580 Naira.
Why don't you go through this 2010 thread and see people lamenting. It has Exchange rate details from previous years.
https://www.nairaland.com/498412/nigeria-exchange-rates-dollar-history

Most of the people who bought brand new cars even as then were corporate organisations who then gave it to their staff. That is a fact. Those organisations still buy brand new cars today. Now, they have wider choices to pick from. Hyundai, Kia and Co. Go to VI and see if companies buy used cars for their staff.

I'm not one for too much talk. Check the price of a new Honda in 2022, compare it to USD and also check the price of new Honda in 2009, converted to USD also.